The One-Sample Z Test Is Used to Determine Whether the Difference

question 155

Multiple Choice

The one-sample z test is used to determine whether the difference between your sample mean and the hypothesized population value is _____.

• A)due to sampling error
• B)significantly large in the "real world"
• C)due to mistakes made when collecting data
• D)both a and b

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Definitions:

Lorenz Curve

A curve showing the distribution of income in an economy. The cumulated percentage of families (income receivers) is measured along the horizontal axis and the cumulated percentage of income is measured along the vertical axis.

Income

Income is the money received by an individual or business in exchange for labor, services, or investment, usually measured over a specific period like a month or a year.

Household Spending

The total expenditure by household members on goods and services for their own use.

Personal Incomes

The total annual income received by an individual from all sources before taxes.